Belmont Capital LLC Takes $161,000 Position in Ingredion Incorporated (NYSE:INGR)

Belmont Capital LLC bought a new position in Ingredion Incorporated (NYSE:INGR) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,169 shares of the company’s stock, valued at approximately $161,000.

A number of other large investors have also added to or reduced their stakes in INGR. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Ingredion in the 2nd quarter worth approximately $26,000. EverSource Wealth Advisors LLC increased its holdings in Ingredion by 102.6% during the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after buying an additional 118 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Ingredion in the second quarter worth approximately $33,000. Family Firm Inc. bought a new position in Ingredion in the second quarter worth approximately $36,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Ingredion during the 2nd quarter worth $36,000. Institutional investors own 85.27% of the company’s stock.

Ingredion Trading Down 1.4 %

INGR stock opened at $138.84 on Tuesday. The company has a market capitalization of $9.05 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 1.21 and a beta of 0.73. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.67 and a quick ratio of 1.69. Ingredion Incorporated has a 1-year low of $100.90 and a 1-year high of $155.44. The business has a 50 day simple moving average of $137.55 and a two-hundred day simple moving average of $126.70.

Ingredion (NYSE:INGR) last issued its earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.47. The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.94 billion. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. Ingredion’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.33 earnings per share. Research analysts anticipate that Ingredion Incorporated will post 10.6 EPS for the current fiscal year.

Ingredion Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st were given a $0.80 dividend. This is an increase from Ingredion’s previous quarterly dividend of $0.78. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date was Tuesday, October 1st. Ingredion’s payout ratio is currently 31.22%.

Insider Activity at Ingredion

In other Ingredion news, SVP Larry Fernandes sold 4,700 shares of Ingredion stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total transaction of $721,027.00. Following the completion of the sale, the senior vice president now directly owns 29,034 shares of the company’s stock, valued at $4,454,105.94. The trade was a 13.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO James P. Zallie sold 1,000 shares of Ingredion stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $134.02, for a total transaction of $134,020.00. Following the transaction, the chief executive officer now directly owns 52,530 shares in the company, valued at approximately $7,040,070.60. The trade was a 1.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,178 shares of company stock valued at $4,982,857. Insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on INGR shares. Oppenheimer raised their target price on Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. UBS Group lifted their price objective on Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research report on Friday. StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Barclays lifted their price target on shares of Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Finally, BMO Capital Markets increased their price objective on shares of Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Ingredion has an average rating of “Moderate Buy” and an average price target of $155.17.

Ingredion Company Profile

Ingredion Incorporated, together with its subsidiaries, manufactures and sells sweeteners, starches, nutrition ingredients, and biomaterial solutions derived from wet milling and processing corn, and other starch-based materials to a range of industries in North America, South America, the Asia Pacific, Europe, the Middle East, and Africa.